I almost typed "independently" but there is a nuance stopping me from that, the very issue we're discussing.If the two of you do not have other STRs, as seems to be the case, you only have this one STR to draw the required hours from. 3 material participation tests to try:1.

I'm thinking between your fanatical approach to savings and cutting expenses for two years and their gift money for two years, you should have a big chunk of money where you can go after this concept on your own.

We work in NYC and need to keep the commute under 90 mins, but will consider any good investment in that radius (think New Paltz as the northern limit).

Not outright their best interest, let's not confuse the two.

Having one asset per LLC will drive you and your accountant insane and when you realize they charge like $1000 min for LLC returns and you have 5 LLCs that the $5k tax will eats up 1/2 your cash flow you will be like oh boy…

Just my two cents.

I am currently living in the house and renting out two rooms.

@Noah Bacon I have a question there are 2 sessions , one Tuesday and Thursday are those two separate sessions that are to be attended or do you just pick one as it's the same content?

I am a determined to become a successful real estate investor with an understanding that success in real estate requires continuous learning and adaptation to the everchanging economic environment.In the upcoming months, I will be actively engaging in the formation of a strategic partnership with two to three like-minded individuals, pooling our resources, and vision to embark on a life-changing journey into the world of real estate investing.

This is for land that is smaller, i.e. half acre up to an acre or two.